Freddie Mac Seniors Housing Multifamily Loans

Our Multifamily Loan Benefits

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Multifamily Loan rates start as low as 5.88% (as of April 19th, 2024)
• A commercial mortgage broker with over 30 years of lending experience
• No upfront application or processing fees
• Simplified application process
• Financing up to 80% LTV
• Terms and amortizations up to 30 years
• Long term fixed rates
• Loans for purchase and refinance, including cash-out
• 24 hour written pre-approvals with no cost and no obligation

Freddie Mac Multifamily Loan

The Freddie Mac Seniors Housing Multifamily Loans program offers incredible financing solutions for borrowers looking to invest in Senior Housing multifamily developments. This program is designed for investors who want to either acquire or refinance properties designated and built as seniors housing properties. It offers flexible, multiple terms for a variety of housing property types — independent living properties, assisted living properties, memory care properties and senior properties with a limited amount of skilled nursing. With terms and amortization up to 30 years and the ability to finance up to 75% LTV, this program is the perfect option for investors looking to expand affordable senior housing.


Freddie Mac Seniors Housing Multifamily Loan Highlights

Use: Funding to acquire or refinance eligible senior housing multifamily properties

 

Terms: Generally 5 to10 years (up to 30 years for fixed-rate loans)

 

Amortization: Up to 30 years

 

Interest Only: Both full-term and partial-term interest only are available

 

Maximum LTV:

5 Year Loan

  • Amortizing: 75% LTV
  • Partial Term Interest-Only: 70% LTV
  • Full Term Interest-Only: 65% LTV

 

7 Year Loan

  • Amortizing: 75% LTV
  • Partial Term Interest-Only: 75% LTV
  • Full Term Interest-Only: 65% LTV

 

10 Year Loan

  • Amortizing: 75% LTV
  • Partial Term Interest-Only: 75% LTV
  • Full Term Interest-Only: 65% LTV

 

 

Minimum DSCR:

5 Year Loan

  • Amortizing: 1.30% DSCR
  • Partial Term Interest-Only: 1.30% DSCR
  • Full Term Interest-Only: 1.40% DSCR

 

7 Year Loan

  • Amortizing: 1.30% DSCR
  • Partial Term Interest-Only: 1.30% DSCR
  • Full Term Interest-Only: 1.40% DSCR

 

10 Year Loan

  • Amortizing: 1.30% DSCR
  • Partial Term Interest-Only: 1.30% DSCR
  • Full Term Interest-Only: 1.40% DSCR

 

Recourse: Non-recourse with standard carveouts for “bad boy” actions

 

Eligible Borrowers:

  • Borrower must be an experienced owner and operator of comparable facilities
  • Loans under $5 million- borrower may be a Single Asset Entity, limited partnership, general partnership, limited liability company, corporation, or real estate investment trust
  • Loans $5 million or more- borrower may be a limited partnership, a corporation, or a limited liability company and must be a Single Purpose Entity
  • If the borrower is structured as a tenancy in common (TIC), each tenant in common must be a Single Purpose Entity

 

Eligible Property Types:

  • Independent living properties
  • Assisted living properties
  • Memory care properties

 

Other terms:

  • Replacement reserve escrow is generally required
  • Reserves for taxes and insurance are required
  • Rate lock is available

 



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